guto antunes

Crypto LATAM Update: Brazil’s Biggest Bank Embraces Crypto, Paraguay Eyes Mining Hub Status

In the West, Oxido Solutions has secured major institutional crypto clients through partnerships like Skill Tree, a US-based crypto BD and recruitment company. This collaboration has resulted in an impressive 88% engagement rate from their leads this year. Guess what? These clients currently handle an estimated 5% of Binance’s total trading volume. Part of that volume is generated using our Binance trading bots.

Looking to build on this success, Oxido Solutions is now expanding into new markets, including Latin America. For Spanish-speaking markets such as Peru, Mexico, and the Dominican Republic, we are working with Ernesto Higueras to serve UHNWIs and institutions. In Brazil, we have partnered with Henrique Marinho’s Enix Finance. Both partnerships have had a strong start. To serve the Latin American market effectively, it’s crucial to stay updated on regional developments. We will continue to share our findings with you regularly. Get ready for the latest crypto news from LATAM.

Itau Unibanco Opens Cryptocurrency Trading to All Users

Banks are recognizing the potential of integrating cryptocurrency services with traditional finance. Itaú Unibanco, the largest bank in Brazil and Latin America, serving over 60 million customers, has announced the full rollout of cryptocurrency trading services.

Initially launched in December for select users, this service has now been expanded to all customers. The bank assessed user acceptance through its investment app, Ion, and found high trust in Itau’s cryptocurrency custody solutions, according to José Augusto de Azevedo Antunes F. (Guto Antunes), head of Itaú Digital Assets.

Oxido Solutions welcomes this development as it boosts bitcoin adoption in Brazil, potentially increasing demand for bitcoin trading bot solutions.

Paraguay’s Bitcoin Mining Strategy for Industrial Growth

Earlier this week, I wrote about the dynamics of the Bitcoin mining market. While El Salvador has started a geothermal Bitcoin mining project powered by volcanic energy, Paraguay is also making significant strides in the bitcoin mining sector. Javier Gimenez, the Minister of Industry and Commerce, recently outlined a new strategy under President Santiago Peña’s administration. The plan focuses on utilizing the country’s energy surpluses to power bitcoin mining operations.

During a meeting with Brazilian commerce representatives, Gimenez explained that while Paraguay’s energy could support 10,000 industries, only a few are currently able to take advantage of it. Therefore, the government will continue supplying energy to bitcoin miners, who have a consistent demand.

Gimenez stated:

“We are rushing to attract industries, but it would be good if we give energy to cryptocurrency miners, where there is demand, so that they use it in the meantime.”

Will Paraguay join the ranks of top crypto mining hubs like the US (40% market share), China (15%), and Russia (12%)? Only time will tell.